Net Asset Value(s)

City Merchants High Yield Trust Limited (CMHY)                                        
                                                                                       
As at close of business on 12-October-2020                                            
                                                                                       
NAV per Ordinary share (unaudited) with Debt at Par & Fair Value                      
                                                                                       
EXCLUDING undistributed current year revenue                               184.24p    
                                                                                       
INCLUDING current year revenue                                             184.70p    
                                                                                       
Amount of borrowings outstanding under repo contracts:                     GBP12.88m  
                                                                                       
Net borrowing level:                                                       5%          
                                                                                       
LEI: 549300JLX6ELWUZXCX14                                                              
                                                                                       
---